Market research project gives operator ideas, college students experience

Nazareth, PA-based Morningstar Living recently received market research help and gave area college students experience at the same time.

Earlier this year, the not-for-profit organization contacted area colleges and universities, asking their economics departments to undertake a market research project.

“Both Lafayette [College] and Moravian University responded with interest in undertaking this research project,” Susan Capobianco, Morningstar’s chief sales, marketing and business development officer, who developed the proposal, told the McKnight’s Business Daily. “One class from Lafayette and two classes from Moravian University participated in the project.”

The primary goal of the project was to quantify the market for senior housing in a suburban setting, she said. A second goal was to determine the style of housing and on-site amenities and services that potential residents would prefer.

“I believe the research project accomplished both of these goals,” Capobianco said.

Throughout the spring semester, participating students researched information and developed a survey of closed and open-ended questions for participants in focus groups organized by Morningstar. The surveys asked the older-adult participants questions about their preferences for urban or suburban settings, intergenerational communities and the types of amenities they’d like to have in a retirement community.

Respondents indicated a “strong” preference to live in a retirement community in a suburban setting rather than an urban area, and they liked the idea of living in a mixed-age environment, according to The Lafayette college newspaper. Respondents also said they would like to be able to walk to restaurants and other amenities typical of a downtown setting.

Christopher Ruebeck, Ph.D., associate professor of economics at Lafayette College, led his marketing research class in the project. The project “afforded his students valuable opportunities to discuss survey design, statistics and other areas related to econometric techniques,” The Lafayette reported.

Capobianco the date was for information gathering purposes only, to keep current with lifestyle choices for people moving into retirement. Morningstar Living does this kind of marketing research study routinely, she said.